Monday, January 09, 2017


FARM COMMODITY TREND ANALYSIS JANUARY 09 2017 MONDAY

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND CHANNEL: PARALLEL LINES JOINING HIGHER LOWS+TOPS  LOWER HIGHS+BOTTOMS 
TARGETS: DISTANCE (PROJECTED) MEASURED PRICE OBJECTIVES OF TRADING  (POSITION)
TRADING: DIRECTION  ACTIVITY  RELATIVE STRENGTH OF CHANNEL POSITION OF TARGET     

CORN/CH17: 25 CENT DAILY LIMIT  FREE WORLD STOCKS/UP  OPEN INTEREST/DOWN  MEDIUM VOLUME
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  FUTURES PREMIUM MAR17/JUL18
TRADING: LOWER HIGH  MATCHED BUYING  UPSIDE BOTTOM  MONTHLY RESISTANCE CONTINUES AT 360   
TARGETS: UP  351  (360)  377  395  COMMITMENTS: HEDGER SOLD SHORT, SOLD LONG, LESS NET LONG

SOYS/SH17: 65 CENT DAILY LIMIT  FREE WORLD STOCKS/UP  OPEN INTEREST/DOWN LOW VOLUME
TREND CHANNEL: DOWN/MEDIUM  MEDIUM RANGE MONTHLY  FUTURES PREMIUM JAN17/JUL17
TRADING: LOWER HIGHS  BUYING  RESISTANCE-CONVERGENCE WITH WEEKLY DOWN CHANNEL TOP/1005      
TARGETS: DOWN, (1005)  990  979  965  COMMITMENTS: HEDGER COVERED SHORT, LESS NET SHORT 

WHEAT/WH17: 35 CENT DAILY LIMIT  FREE WORLD STOCKS/UP   OPEN INTEREST/DOWN LOW VOLUME
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY   FUTURES PREMIUM  MAR17/MAY19
TRADING: FLAT/OUTSIDE DAY  NET BUYING  UPSIDE MID CHANNEL AT 424  MET RESISTANCE AT 429        
TARGETS: UP, 387  411  (424)  429  443  COMMITMENTS: HEDGER SOLD SHORT, LESS NET LONG

DOLLAR CAD/USD: CDH/17 4.00 DAILY LIIMIT.  OPEN INTEREST/FLAT  LOW VOLUME
TREND CHANNEL: DOWN  WIDE RANGE MONTHLY  FUTURES  PREMIUM DEC16/DEC 21 
TRADING: LOWER HIGH DAY1  MATCHED  TESTED CONTINUED RESISTANCE AT TOP  ALSO AT 7584
TARGETS: DOWN, (7584)  7556  7521  7476  COMMITMENTS: HEDGER BOUGHT LONG, MORE NET LONG  

HEATING OIL ULSD  HOG/17  25 CENT DAILY LIMIT,  OPEN INTEREST/UP  MEDIUM VOLUME 
TREND CHANNEL: UP,/GRADUAL  WIDE RANGE MONTHLY   FUTURES PREMIUM JAN17/FEB18

TRADING: LOWER HIGH DAY 1  SELLING  FROM CHANNEL TOP  TESTED/CLOSED AT 164 AS SUPPORT  
TARGETS: UP, 151  (164)  169  177  COMMITMENTS: HEDGER  SOLD LONG, MORE NET SHORT

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